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Sunday, May 15, 2011

Puneet Resins is Rishiroop group company manufacturing various types of Rubber chemicals and PVC Compounds and different forms of rubber.Company manufacturing the products under three brand names 'Vulcanol' ,'Vinoprene' and 'Vinoplast'.The first one Vulcanol is a Vulcanised Vegetable Oil used in industries like Rubberised fabrics, Rubber threads ,Gaskets...etc.The next two are NBR/ PVC blends used in the manufacturing of various types of Hoses,auto parts..etc.Company's performance is improving in recent times and it is expected to post its best ever result in this FY. For the 9 months ended December ,company posted a turnover of Rs.37 Cr ,net profit of Rs.3.65 Cr and an EPS of Rs.7 . Share price is currently trading around Rs.34/- with a P/E multiple of just 4 on the expected full year EPS. If the management shows better corporate governance ,there is fair chance for a re rating from current level.

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